NRS 286.525
Employment of retired employee: Enrollment in System
- rights of membership
- accrual of credit for service
- benefits for survivor.
1.
A retired employee who accepts employment in a position eligible for membership may enroll in the System as of the effective date of that employment. As of the date of enrollment:(a)
The retired employee forfeits all retirement allowances for the duration of that employment.(b)
The retired employee is entitled to receive, after the termination of the employment and upon written request, a refund of all contributions made by the retired employee during the employment. Except as otherwise required as a result of NRS 286.535 or 286.537, if the retired employee does not request the refund and the duration of the employment was at least 6 months, the retired employee gains additional service credit for that employment and is entitled to have a separate service retirement allowance calculated based on the retired employee’s compensation and service, effective upon the termination of that employment. If the duration of the employment was:(1)
Less than 5 years, the additional allowance must be added to the retired employee’s original allowance and must be under the same option and designate the same beneficiary as the original allowance.(2)
Five years or more, the additional allowance may be under any option and designate any beneficiary in accordance with NRS 286.545.2.
The original service retirement allowance of such a retired employee must not be recalculated based upon the additional service credit, nor is the retired employee entitled to any of the rights of membership that were not in effect at the time of the retired employee’s original retirement. The accrual of service credit pursuant to this section is subject to the limits imposed by:(a)
NRS 286.551; and(b)
Section 415 of the Internal Revenue Code, 26 U.S.C. § 415, if the member’s effective date of membership is on or after January 1, 1990.3.
Except as otherwise required as a result of NRS 286.470, 286.535 or 286.537, a retired employee who has been receiving a retirement allowance and who is reemployed and is enrolled in the System for at least 5 years may have the retired employee’s additional credit for service added to the retired employee’s previous credit for service. This additional credit for service must not apply to more than one period of employment after the original retirement.4.
The survivor of a deceased member who had previously retired and was rehired and enrolled in the System, who qualifies for benefits pursuant to NRS 286.671 to 286.6793, inclusive, is eligible for the benefits based on the service accrued through the second period of employment.
Source:
Section 286.525 — Employment of retired employee: Enrollment in System; rights of membership; accrual of credit for service; benefits for survivor., https://www.leg.state.nv.us/NRS/NRS-286.html#NRS286Sec525.